A divided Argentina: Wyre Davies, BBC News, Buenos Aires

As he danced around on the stage, like an embarrassing grandfather at a wedding, Mauricio Macri couldn't care less - he'd produced an election result against a party that has dominated Argentine politics for more than a decade - a result that few would have predicted just a few months ago.

In the end it was close, about a 3% margin over the deflated Daniel Scioli. He'd been handpicked by the outgoing president but could never match Cristina Fernandez de Kirchner's charisma or her bond with the Peronist Party's working class base.

Economic reform will be Mr Macri's number one priority but he gave little away in his victory speech. It will not, though, be easy. Argentina is divided. While most of the white, middle class supporters at the victory rally will hope for a more liberal, open economic climate - the working class, banner waving youth at the ruling party "wake" will hope that warnings about welfare reform and government cuts do not materialise.

The son of one of Argentina's richest men, Mr Macri had a long career in business before entering politics.

In 1991, he was kidnapped and kept captive for 12 days by a gang of corrupt policemen demanding millions in ransom.

Four years later, he became president of Boca Juniors Football Club and used his success at the club as a springboard for his political career.

Mr Scioli, a close ally of outgoing President Cristina Fernandez de Kirchner, had been expected to win by a greater margin in October.

He tried to regain momentum before Sunday's runoff by attacking Mr Macri's market-driven economic policies as a throwback, but failed to regain a lead in the polls.